Sony has announced at their E3 Press Conference that the PlayStation 4 supports the use of used games. The system won't have any sort of online authentication. You can trade in games to retailers, lend games to friends and sell the games yourself.

Sony also announced that the PlayStation Plus membership carries over to the PlayStation 4.

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such an amazing howl of cheers when he announced this, so crazy that the biggest cheer of the night was them saying that they weren't going to be doing something :D Microsoft handed it to them on a silver platter.